volinbham
VN GURU
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Oops.On whatever market it is sold, WTI or Brent, the price of tar sand oil is discounted to compensate for the extra costs of refining. That does not make it cheaper because the lower price equals the added cost of processing. So why are you confusing the issue with this? Are you confused by it? As for added supply putting downward pressure on price. Mid-American refineries already have over supply of Canadian tar sand pipeline. Will the added supply to the international market affect its prices? Probably, yes, but we could spend a few years talking about that and still not understand it. OPEC producers typically do not produce at maximum levels, in order to limit supply for the purpose of manipulating prices. The producers are seldom in complete agreement or complete compliance with their agreements. Instead of remaining forever simple, this topic gets immediately complicated.
And the rich guy with the train lines has deep connections with the Dems.If I remember correctly, wasn't this oil coming in through trains anyway? So now we get to have more potential for a train derailment and spills and have more pollution from diesel exhaust. Sounds like a great democrat plan to me.
By law, construction projects of foreign companies like Keystone XL Pipeline on U.S. soil require the State Department to certify its being in U.S. national interest. The project cannot go forward without that decision by the U.S. Department of State.
If they pay us to refine it here and it creates jobs then wtf do we care what they sell it for. Are we forced to buy it?
By law, construction projects of foreign companies like Keystone XL Pipeline on U.S. soil require the State Department to certify its being in U.S. national interest. The project cannot go forward without that decision by the U.S. Department of State.
We care wtf they sell it for because higher prices of Candian oil sold to mid-American refineries means higher prices for gas and diesel at American gas station pumps, as well as higher prices for other refined petroleum products like jet fuel.
We care wtf they sell it for because higher prices of Candian oil sold to mid-American refineries means higher prices for gas and diesel at American gas station pumps, as well as higher prices for other refined petroleum products like jet fuel. If refineries choose not to buy it, that reduces supply and inceases prices for whatever they do buy.
So they are buying the more expensive sand to do more expensive refining instead of buying cheap american stuff?We care wtf they sell it for because higher prices of Candian oil sold to mid-American refineries means higher prices for gas and diesel at American gas station pumps, as well as higher prices for other refined petroleum products like jet fuel. If refineries choose not to buy it, that reduces supply and inceases prices for whatever they do buy.
There you go @McDadGenerally, dark money is a stream of unreported financial contributions to political issues, campaigns, or parties. Some people actually get tax write-offs by contributing to nonprofit "educational" corporations which operate as political lobbies. That is not legal, but the IRS turns a blind eye more often than not. The money is not publicly reported, so it is a way to get around financial disclosure laws.
"Politically active nonprofits – principally 501(c)(4)s and 501(c)(6)s – have become a major force in federal elections over the last three cycles. The term "dark money" is often applied to this category of political spender because these groups do not have to disclose the sources of their funding. These organizations can receive unlimited corporate, individual, or union contributions that they do not have to make public, and though their political activity is supposed to be limited, the IRS – which has jurisdiction over these groups – by and large has done little to enforce those limits."
Political Nonprofits (Dark Money) | OpenSecrets
So gas prices are going to go down now?
That is not implied, because cancelling Keystone XL Pipeline merely prevents Canadian producers from increasing their prices to the international Brent price. It is currently sold at WTI prices discounted to the added costs of refining. (It costs more to refine tar sands oil than it does to refine black crude oil from Oklahoma and Texas.)
That is not implied, because cancelling Keystone XL Pipeline merely prevents Canadian producers from increasing their prices to the international Brent price. It is currently sold at WTI prices discounted to the added costs of refining. (It costs more to refine tar sands oil than it does to refine black crude oil from Oklahoma and Texas.)
So they are buying the more expensive sand to do more expensive refining instead of buying cheap american stuff?
That is not implied, because cancelling Keystone XL Pipeline merely prevents Canadian producers from increasing their prices to the international Brent price. It is currently sold at WTI prices discounted to the added costs of refining. (It costs more to refine tar sands oil than it does to refine black crude oil from Oklahoma and Texas, so the added cost of refining is deducted from the price paid for it.)
They buy both. Oil markets are an ever changing, complicated world. We do know some simple things, like the difference in prices on our domestic market and the foreign market. Domestic market or WTI oil is typically sold around five dollars a barrel less than oil on the international market.
piping it to Texas or railing it to the west coast isn't going to change this - the pipeline doesn't magically make it so Brent can be charged.
"the pipeline doesn't magically make it so Brent can be charged." The opinion of oil industry experts is that it indeed does. TC Energy clearly stated that in its annual report and in its prospectus for investment in Keystone XL Pipeline. Hatching out opinions cost you nothing, but we need our opinions to be based on true facts, not on uninformed imagination.